Case Study: West Coast Chain of Medical Laboratories achieves $8 million in tax savings with MGO

West Coast Chain of Medical Laboratories uncovers $8 million in tax savings with MGO

The customer, a West Coast chain of medical laboratories, was working with a previous national accounting firm. Their challenge was an undiscovered tax error, as their former CPA failed to properly account for the new California pass-through entity (PTE) tax on their 2021 return, leading to a lost federal deduction. They engaged MGO for its tax advisory services to address this issue.

MGO's tax professionals analyzed the client's situation, identified the oversight, and diligently corrected the tax filing. This solution allowed the client to properly claim the significant deduction. As a result, MGO secured $8 million in tax savings for the client, providing substantial resources for the business to reinvest.